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I was slightly frustrated with poor performance when playing in VR with the new deferred rendering engine, so I had a look what would be possible to remove/simplify from the shaders to improve the framerate without too huge sacrifices in image quality. Focusing on anything that has a potentially high memory bandwidth cost (which is usually a big problem with deferred renderers + high resolutions) I was able to do some seemingly decent "optimizations".

* This optimization does not work with planes which do not use the glass shader for the canopy glass. For example the A10C, Hawk and Viggen. It works at least with the Hornet and Harrier.
** If you see an area around your peripheral vision rendered incorrectly open Bazar\shaders\deferred\_HMD.hlsl and increase the MASKSIZE value. The default is optimized for HTC Vive.
*** You can also adjust MSAA_MASKSIZE value from above file, which is the size of the area onto which MSAA is applied when it is enabled. Default is a very small area in the middle of the view.

Some of these are quite visible changes like removal of tonemapping & bloom, simplification of the canopy shader and shadows, and likely many features like DOF or SSAO no longer work. I would expect there to be other broken features too, I haven't played with it that much yet.

The performance gain however is pretty good, it can be up to 50% or more in conditions where the GPU is the limiting factor.

I gave this a shot. Resolution seemed better and the frame rate seemed the same, but I definatly have the weird artifacts around the edge of my vision now. It kind of felt like I was getting eye strain after 10 minutes or so. Any suggestions for the MASKSIZE value for an Oculus Rift?

Edit: I used 0.575 for the MASKSIZE and it got rid of the artifacts at the edge of my vision and FPS seemed unaffected. A lower value might work, but trying it out will have to wait until I have more time.

Yes, it can and no they don't. The only thing that I've noticed any real degradation with is the grass, and right now, I'm not seeing a lot of that in my Hornet (Notice I said in my Hornet, I'm seeing plenty of it at the end of my silk let downs )

I've found setting the mask size to 0.600f works great for me with a CV1 and I will congratulate Kegetys for making my text easier to read in my MFD's!